SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Netflix Inc (NASDAQ:NFLX) based on the price action in the company's shares. Today's price range of $285.71 and $288.57 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Netflix Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Netflix Inc. is an Internet subscription service for watching television shows and movies. Subscribers can instantly watch unlimited television shows and movies streamed over the Internet to their televisions, computers, and mobile devices and in the United States, subscribers can receive standard definition DVDs and Blu-ray Discs delivered to their homes.

In the past 52 weeks, shares of Netflix Inc have traded between a low of $178.38 and a high of $423.21 and are now at $288.04, which is 61% above that low price. The 200-day and 50-day moving averages have moved 0.10% higher and 2.12% lower over the past week, respectively.

Potential upside of 14.8% exists for Netflix Inc, based on a current level of $288.04 and analysts' average consensus price target of $330.76. The stock should find initial resistance at its 50-day moving average (MA) of $322.49 and further resistance at its 200-day MA of $336.63.

SmarTrend is monitoring the recent change of momentum in Netflix Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Netflix Inc in search of a potential trend change.